Gold hit its highest level in five weeks, gaining around 1.3% as concerns grow over upcoming U.S. trade deadlines and potential tariff increases.
The dollar’s decline and lower U.S. bond yields helped boost gold’s appeal as a safe haven. Traders are also anticipating a possible Federal Reserve rate cut in September, increasing market uncertainty.
Despite this, China’s gold imports dipped to the lowest since January. Other precious metals like silver, platinum, and palladium also posted gains.
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